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Subpoenas Issued In AOL Time Warner Accounting Probe
The U.S. Securities and Exchange Commission has subpoenaed Time Warner's (nyse: TWX - news - people ) current Chairman and Chief Executive Richard Parsons, and former Chairman Stephen Case--who, you may remember, presided over the colossus during its "AOL TW" days. According to The New York Times, the SEC is widening an investigation of the media monolith's accounting for an advert deal with Bertelsmann.Besides Parsons--also a director at Citigroup (nyse: C - news - people ) and Estee Lauder (nyse: EL - news - people )--and Case, the watchdog's net has also dragged in other TW executives. It should be noted that the subpoenas alone do not indicate that the SEC will take action against any of the recipients, the self-styled Paper of Record noted.